Principal Financial Group Inc. Has $8.52 Million Stock Holdings in Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Principal Financial Group Inc. lessened its holdings in Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 4.4% during the third quarter, HoldingsChannel reports. The firm owned 213,275 shares of the semiconductor company’s stock after selling 9,813 shares during the quarter. Principal Financial Group Inc.’s holdings in Ultra Clean were worth $8,516,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of UCTT. GAMMA Investing LLC boosted its holdings in shares of Ultra Clean by 52.1% during the 2nd quarter. GAMMA Investing LLC now owns 622 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 213 shares in the last quarter. CWM LLC boosted its holdings in shares of Ultra Clean by 46.3% during the 2nd quarter. CWM LLC now owns 800 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 253 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Ultra Clean by 465.5% during the 3rd quarter. Signaturefd LLC now owns 803 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 661 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Ultra Clean during the 2nd quarter valued at $41,000. Finally, nVerses Capital LLC acquired a new stake in shares of Ultra Clean during the 2nd quarter valued at $64,000. Institutional investors and hedge funds own 96.06% of the company’s stock.

Wall Street Analyst Weigh In

UCTT has been the topic of several recent research reports. Craig Hallum raised their price objective on Ultra Clean from $52.00 to $60.00 and gave the company a “buy” rating in a report on Friday, July 26th. Needham & Company LLC lowered their target price on Ultra Clean from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. TD Cowen lowered their target price on Ultra Clean from $60.00 to $57.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Finally, Oppenheimer initiated coverage on Ultra Clean in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $70.00 price objective for the company. Four analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $57.75.

Insider Buying and Selling at Ultra Clean

In related news, insider Jeffrey L. Mckibben sold 3,422 shares of Ultra Clean stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $38.20, for a total value of $130,720.40. Following the sale, the insider now owns 18,805 shares of the company’s stock, valued at approximately $718,351. The trade was a 15.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Harjinder Bajwa purchased 15,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was bought at an average cost of $34.83 per share, for a total transaction of $522,450.00. Following the acquisition, the chief operating officer now directly owns 44,291 shares in the company, valued at $1,542,655.53. This trade represents a 51.21 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.20% of the company’s stock.

Ultra Clean Stock Performance

UCTT stock opened at $35.21 on Tuesday. The company has a current ratio of 2.75, a quick ratio of 1.63 and a debt-to-equity ratio of 0.52. The stock has a 50-day moving average price of $36.38 and a 200-day moving average price of $41.54. The firm has a market cap of $1.59 billion, a PE ratio of 440.18 and a beta of 2.08. Ultra Clean Holdings, Inc. has a 1-year low of $25.65 and a 1-year high of $56.47.

Ultra Clean (NASDAQ:UCTT) last issued its earnings results on Monday, October 28th. The semiconductor company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02. The company had revenue of $540.40 million during the quarter, compared to the consensus estimate of $515.88 million. Ultra Clean had a return on equity of 4.08% and a net margin of 0.18%. The firm’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period last year, the business posted ($0.03) EPS. As a group, equities research analysts expect that Ultra Clean Holdings, Inc. will post 1.09 earnings per share for the current year.

About Ultra Clean

Ultra Clean Holdings, Inc develops and supplies critical subsystems, components and parts, and ultra-high purity cleaning and analytical services for the semiconductor industry in the United States and internationally. The company provides ultra-clean valves, high purity connectors, industrial process connectors and valves, pneumatic actuators, manifolds and safety solutions, hoses, pressure gauges, and gas line and component heaters; chemical delivery modules that deliver gases and reactive chemicals in a liquid or gaseous form from a centralized subsystem to the reaction chamber; and gas delivery systems, such as weldments, filters, mass flow controllers, regulators, pressure transducers and valves, component heaters, and an integrated electronic and/or pneumatic control system.